MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 4,804 Shares of Apple Inc. (NASDAQ:AAPL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Apple Inc. (NASDAQ:AAPL) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,193 shares of the iPhone maker’s stock after buying an additional 4,804 shares during the period. Apple accounts for about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 20th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Apple were worth $55,353,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Tallon Kerry Patrick bought a new position in Apple during the 4th quarter worth $1,877,000. First National Bank of Hutchinson increased its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares during the last quarter. Capital & Planning LLC increased its stake in shares of Apple by 10.7% in the 4th quarter. Capital & Planning LLC now owns 27,298 shares of the iPhone maker’s stock valued at $6,836,000 after purchasing an additional 2,647 shares during the last quarter. Eagle Capital Management LLC increased its stake in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the last quarter. Finally, Brighton Jones LLC grew its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AAPL shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Apple in a report on Friday, June 13th. China Renaissance started coverage on Apple in a research note on Tuesday, April 22nd. They issued a “buy” rating and a $241.00 price objective on the stock. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating in a research note on Friday. Raymond James Financial dropped their price objective on Apple from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Apple from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.11.

Apple Stock Up 0.6%

NASDAQ AAPL opened at $211.18 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. The stock has a market capitalization of $3.15 trillion, a PE ratio of 32.89, a PEG ratio of 2.36 and a beta of 1.20. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The business’s 50-day moving average is $204.57 and its 200 day moving average is $215.61.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. Apple had a net margin of 24.30% and a return on equity of 167.24%. The business had revenue of $95.36 billion during the quarter, compared to analyst estimates of $94.04 billion. During the same period last year, the business posted $1.53 earnings per share. Apple’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. This is a positive change from Apple’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, May 12th. Apple’s dividend payout ratio (DPR) is presently 16.20%.

Apple announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that permits the company to buyback $100.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,486 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares of the company’s stock, valued at $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevan Parekh sold 4,570 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $206.00, for a total transaction of $941,420.00. Following the sale, the chief financial officer directly owned 4,569 shares of the company’s stock, valued at $941,214. This trade represents a 50.01% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.